Monday, November 10, 2008
Kansas City Star says it may sell its printing facility and downtown circulation complex
The Kansas City Star announced today it is looking into the possibility of selling, then leasing back the huge $200 million printing plant it began using in 2006. The Star would retain ownership of the equipment, including its four presses. The KC Star also said it will put its downtown circulation complex on the market, and move staff to the headquarters building at 1729 Grand Blvd. in early 2009.
The photo above shows the printing facility, which opened in 2006. (Photo courtesy newpressroom.com.)
The KC Star is evidently planning to become a tenant, not an owner -- which tells you the desperate state of the KC Star.
Bonus question: will the proceeds from the sale of these properties go back into the KC Star, or will the proceeds be used to pay corporate debt?